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IT Tops...


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#1 tsharp

tsharp

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Posted 17 December 2016 - 01:14 PM

Darn, I had a post all written and ready to go, then we had a hiccup here and I lost it... the short version is that I've notice lately the many calls for an IT top, yet my charts do not show even a ST top at this time... perhaps upward at the SPX ~2350 - ~2500 level, but as always, I'll take it a day or week at a time.

 

FWIW, I'm an IT Swing Trader... of necessity.  I have seven children still at home, just came out of a seven month legal battle and work some 60-hours per week as a manager for my employer.  I learned that at this juncture of my life, I had to learn to read the IT swings, and accordingly, am still long from the Feb lows.

 

With both the fast and slow momentum charts, I am looking for negative divergence AND a break of the dashed UTL on both charts to suggest an IT turn is at hand.

 

Link to SPX fast momentum IT Top chart:  http://postimg.org/image/71mzuhj2x/

 

SPX_W_IT_TOP_12_17_16_1.jpg

 

Link to SPX slow momentum IT Top chart:  http://postimg.org/image/osym8xyhl/

 

SPX_W_IT_TOP_12_17_16_2.jpg